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Politics : President Barack Obama
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To: koan who wrote (54325)5/7/2009 7:29:05 PM
From: Bread Upon The Water  Read Replies (2) of 149317
 
I basically agree with what you say, Koan, about the dollars slide and the rise of what you hold, but I disagree that the Fed will do this deliberately. (by that I mean by making an announcement like Mexico did a few years ago.)

Instead they will let the market do it for them, which it is, albeit more roughly than a one time announcement. That way it will be a more slower more deceptive process.

Why do we need deception?

Well, first of all if your a voter your not going to be happy if you wake the next day and find out your bank account is now worth 36% less (the announcement method).

Secondly, the dollar is the world's reserve currency. those countries that hold bunches of it (China, Saudi Arabia) are not going to be happy either and will stop cooperating with us economically.

But I do think by 2025 the dollar will be worth about half as much as it is today.
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